If you are looking for a short-term investment option, these are the top cryptocurrencies to buy now.
Investors have been curious about cryptocurrencies ever since Bitcoin skyrocketed in price and value. Today backed by the advanced blockchain technology, several altcoins effectively offer multiple means for anyone looking to make a good income online. But with thousands of options for crypto investors, the market could be quite confusing sometimes. To help you out, here we will look at 5 top cryptocurrencies to buy for short-term profits for May 2022.
1. Polygon (MATIC)
With the increased demand for NFT and DeFi, MATIC has positioned itself as one of the best cryptos to buy now.
The first token that is on our list of Top cryptocurrencies to buy for short-term profits is Polygon. The popularity of Polygon’s MATIC token partly stems from the network’s objective of developing solutions to some of Ethereum’s major challenges, like high fees, low transaction speed, and a poor user experience. Polygon is the only scaling solution supporting the Ethereum Virtual Machine (EVM), allowing different blockchains to exchange value and information seamlessly, eliminating technological barriers.
MATIC is one of the best cryptos to buy now primarily because of the popularity of NFTs. In addition, Polygon has marked itself as a project that offers global partnership opportunities with a large ecosystem and community and is highly scalable, with a network speed of 7,200 transactions per second (TPS).
2. Dogecoin (DOGE)
The increase in adoption and initiation of several new projects in the network makes DOGE one of the top cryptocurrencies to buy for short-term profits.
For years, Dogecoin existed on the fringes as a joke cryptocurrency, traded for less than a penny. But recently, the Shiba Inu-themed coin has found a place among the most valuable assets on powerful cryptocurrency trading platforms, thanks to support from its community and several celebrities.
Being a meme coin in the market, Dogecoin has experienced a volatile past, with incredible highs and dramatic lows. Much of DOGE’s rise was due to massive attention from social media, combined with mentions from high-profile names such as Elon Musk, Snoop Dogg, and Mark Cuban. Moreover, Dogecoin has strong support from retail investors and high net worth investors alike, making it one of the top cryptocurrencies for short-term profits.
Additionally, the token has been experiencing an increased adoption as a payment method by institutions and merchants worldwide. This aspect of Dogecoin’s utility was also reinforced by Elon Musk when he said that Tesla would begin accepting DOGE as a payment method for the car maker’s merchandise.
3. ApeCoin (APE)
ApeCoin’s bold use case initiatives, like gaming and merchandise, make APE one of the top cryptocurrencies to buy now.
In 2022, ApeCoin is expected to be one of the largest winners, thanks to its utilities and emerging partnerships. The APE token, launched in a loose collaboration with NFT hotbed Bored Ape Yacht Club, has been on the rise since it was airdropped to owners. The coin’s value has increased by more than 1,000%, even amidst the current pessimistic forecast for the crypto-finance sector.
Given the media attention and popularity that ApeCoin is generating, this token could be one of the top cryptocurrencies to buy for short-term profits.
4. 0x (ZRX)
Thanks to the DeFi boom, the 0x price may intensify further, resulting in mass adoption among users and investors.
The next addition to our list of the top cryptocurrencies to buy for short-term profits is 0x. ZRX aims to provide a feasible infrastructure for the emerging crypto economy. It allows users to trade ERC-20 tokens and other assets on the Ethereum blockchain, eliminating the need for any traditional cryptocurrency exchanges.
Thanks to its smart contract technology that offers a base for decentralized finance, it manages a new breed of financial services such as loans, savings, insurance, trading, and so on, using cryptocurrencies as collateral.
The purported goal of the 0x is to attain accessibility, scalability, and interoperability among decentralized applications (dApps). The entire ecosystem of 0x ensures that participants benefit from blockchain-enabled functional advantages like those of smart contracts. Eliminating the intermediaries 0x has the potential to hold a benchmark for content creators and would emerge as potential competition for giants like Facebook, and Google, who sell your data.
5. The Sandbox (SAND)
The SAND, with its series of events lined up for launch, has positioned itself as one of the top cryptocurrencies to buy for short-term profits.
The Sandbox is a blockchain-backed virtual space where users can play, create, buy, sell and monetize their gaming experiences. Its main goal is to unleash players’ creativity by allowing them to build the platform of their vision. Sandbox’s play-to-earn gaming platform combines blockchain technology and NFTs in a three-dimensional (3D) metaverse.
The amount of celebrity interest in Sandbox is exciting and makes it the best crypto for short-term returns. Hip-hop legend Snoop Dogg marked their virtual real estate on The Sandbox platform. He announced on 27 January 2022 that he would be launching a series of Snoop Dogg metaverse avatars on the platform, and the news has pushed SAND’s price significantly higher. Furthermore, interest from the gaming industry, like Atari, is another factor that makes SAND a good buy.
In the end, cryptocurrency investors are looking to bag the next big thing with the hope of generating huge returns. However, because of their volatility, emerging status, and low regulation, cryptocurrencies are still considered alternative investments, making them a minor portion of most investment portfolios. Considering every factor, these are the 5 top cryptocurrencies to buy for short-term profits for May.